By Adam Nathan.
The Central Bank of Libya (CBL) has deposited LD 4.8 billion ($3.4 billion) to the Presidency Council / Government of National Accord (GNA) to cover the budget ('Temporary Financial Arrangement') for the first quarter of the year.
While LD 3.5 billion of this is to be used to pay state salaries, Economics and Finance Ministers have said that there has been a considerable reduction in the payment of duplicate salaries.
For Q2 they will look at reducing subsidies, which account for LD 650 million in Q1, to make more funding available for infrastructure projects.
(Source: Libya Herald)
